Today I’ll address the situation in which clients or customers get stuck. More often than not, the challenge facing an aspiring BWP (Build Wealth Pro) is not income or smarts. It’s more on the fear or anxiety side, which can restrict forward movement as much as anything.
In this post, I’ll break down these concerns – so that you can tackle them swiftly and easily, or even avoid them altogether.
#1: What if I screw up?
Unlikely. By following the detailed steps laid out in the program, your risk of error is very minimal. In fact, to reduce error even further, all modules, sections and units highlight the mistakes I made along the way, to help ensure you don’t repeat them.
#2: I don’t have a college-degree!
You don’t need one. As long as you can read, write, and do high-school math … the rest of the algebra, economics and corporate finance concepts are distilled down. Just follow along, be brave to try the steps, and enjoy the ride.
#3: There is too much math!
Math is not my strength!
Not a problem. You can utilize the formulas built-in to the templates in the exhibits (as well as the math elements spelled out in the text). Plus, when you take a step, you can go slow, look back, and use the math shown in the guides as much as you need to.
#4: I don’t have this kind of money to spare!
You actually might. The BWP-approach is specifically ideal for those with tight financials. It shows you the way to identify, extract and harvest those “pennies” a month that you may not realize you have … to amplify that residual income into moderate then significant short-term and long-term wealth. Your only pre-requisite is a five-figure annual income that is considered middle-class or median-level.
#5: There are too many steps!
Actually, partial credit counts! Taking any of the steps will help you build more household wealth. Skipping steps is perfectly fine. In fact, many steps are flagged up front as conditional [i.e., not applicable to everyone] and/or optional! Assuming you are an ideal candidate for the BWP flight [i.e., tomorrow you are not winning the lottery or inheriting a six or seven figure trust fund!], then there will be natural space between the steps, as you build and grow that step to bloom. It is almost like climbing 21 steps but with each step, you get to pause for a cool, refreshing beverage!
#6: It’s “TMI”! How can I remember all this?
You won’t. But you don’t need to. The climb has many pauses. You do some work now, then none for months, then a few hours on, a few months off, etc. Also, you are doing all this to gain short and long-term wealth – not to pass a test, not for a degree in Individual Finance, nor to impress your friends at a cocktail party (although you could).
#7: What if I don’t have enough time?
Well, you only need about an hour a month. It’s similar to getting started on an exercise program as a working adult. It’s hard to carve-out the time initially, but once you find a routine to do so, you’ll notice soon how the benefits greatly outweigh the costs of time. This is your Financial Wellness; i.e., your “WealthNess” to get FinFit.
Once you get some modest movement up the BWP flight, you will feel the power of its Cost/Benefit ratio. You will start to see that the gains from it can get close to your “day-job” income and when you sum the time from the spurts here and there, it’s much less than you spend per month commuting to that day job. In fact, the power of BWP can be to double your salary in half your commute!
It’s perfectly natural to have doubts, hesitation, fears. I did. I came from modest means and was about to give my newly acquired, hard-earned money to “strangers”. What’s important to note is that the BWP-path utilizes moderate, respected, mature investment entities and instruments that have thrived over decades of market corrections and product fads. Plus, the BWP process is holistic; it utilizes a full circle of factors and tools, beyond investing, to enable you to build and grow wealth in a manner that fits with your financial situation and personality.
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